Egypt: Suez Canal Container Terminal will build and operate the second container terminal at the port of Port Said East for $500 million

The General Authority of the Suez Canal Economic Zone (SCZONE) announced, in a press release issued on November 15, the award of a $500 million contract to Suez Canal Container Terminal (SCCT) for the construction and l operation of the second container terminal at the port of Port Said East.

Suez Canal Container Terminal, a subsidiary of Dutch port operator APM Terminals, “will take care of the financing, design, construction, management and operation of the second container terminal”, it was reported. specified from the same source.

The contract was signed by SCZONE Chairman Walid Gamal El-Dein and SCCT CEO Steven Yoogalingam on the sidelines of the 27th UN Climate Change Conference (COP27) in Sharm El-Sheikh.

The new container terminal will have a quay with a length of 955 meters and a handling space of 510,000 square meters. It will have a capacity of 2 million TEU (twenty foot equivalent).

Suez Canal Container Terminal has been operating a container terminal with a capacity of 4 million TEUs at the port of Port Said East since 2004, with a quay length of 2,400 meters and a handling yard of 1.2 million meters squares.

Held 55% by APM Terminals, Suez Canal Container Terminal also counts among its shareholders the Chinese operator Cosco Pacific (20%), SCZONE (10.3%) and the National Bank of Egypt (5%).